Publications: The Petroleum Economics Monthly

The Fossil Fuel Kodak Moment: Will High Costs and Political Insecurity Hasten the Demise of Oil, Natural Gas, and Coal? (May 2014)

In our view, the individuals and entities raising the alarm regarding global warming, melting Antarctic ice sheets, and disappearing arctic sea ice are far too pessimistic. In contrast, we are optimistic that global emissions will decline rather precipitously over the next decade in defiance of projections by climate experts and other forecasters. The decrease will occur not because good policies have been adopted but due to several other factors, the most important being the fossil fuel industry's utter loss of control over its production costs. Quite simply, the very high prices required to profit from mammoth projects planned to meet forecasted demand will kill the fossil fuel industry quickly.

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